Nov., 2024 raw material update

From 2024 to November
First, the central bank governor Pan Gongsheng: Next year will continue to adhere to the supportive monetary policy stance and policy orientation.

Second, in November, the manufacturing purchasing managers’ index was 50.3%, up 0.2 percentage points from the previous month; The non-manufacturing business activity index was 50.0%, down 0.2 percentage points from the previous month; The composite PMI output index was 50.8%, the same as last month, and the economic prosperity level of our country maintained a stable expansion.

Third, on November 19, PoSCO officially shut down the first-line material factory with a history of more than 45 years, and the company’s wire production capacity will be reduced from 2.847 million tons to 2.097 million tons.